Corporate espionage costs billions per year: Investigator

Dumpster dives, social engineering common tactics
By Amanda Silliker
|Canadian HR Reporter|Last Updated: 01/10/2012

Corporate espionage is a common practice in Canada and it’s costing organizations billions of dollars per year, according to Ron Myles, a private investigator who was an officer with the Canadian Security and Intelligence Service (CSIS) for 13 years.

And many organizations are unaware of the potential risk they are facing.

“The business world, by and large, regards these problems as something that happens in the military world, looking for nuclear secrets, not in the world of private commerce,” said Sandy Boucher, a senior investigator at risk management firm Grant Thornton in Toronto. “More and more over the last decade, we’re seeing corporations are becoming a major target of all sorts of actors trying to steal anything they can get their hands on.”